By Kayode Ogunwale

 

Ten of 157 companies listed on the floor of the Nigerian Exchange (NGX) traded the large sum of N807.22 billion in the year 2022 which was 69.31 per cent of total value traded.

According to available data from NGX, Union Bank Plc led with N194.93 billion represents 16.74 per cent of entire value traded in the year, followed by MTN Nigeria Communications Plc with N149.39 billion traded, while Guaranty Trust Company Plc traded N88.17 billion represents 7.57 per cent.

Also, Zenith Bank Plc shares traded the sum of N71.97 billion in the year, as BUA Food Plc traded N70.04 billion which was 6.01 per cent.

However, Dangote Cement Plc and Seplat Energy Plc traded N55.81 and N48.88 billion respectively which was 4.79 per cent and 4.20 per cent of total value traded in the year 2022. While Airtel Africa Plc, FBN Holdings Plc and Access Corporation traded N46.97 billion, N46.38 billion and N34.68 billion respectively.

Meanwhile, the economic challenges faced by the country in 2022, the stock market arm of the Nigerian Exchange Group (NGX) remained resilient as it gained N5.62 trillion in the past year.

In terms of value, the overall market capitalisation increased to N27.915 trillion in 2022, representing an increase by 25.2 per cent from the N22.297 trillion it closed in 2021.

Also, the NGX All-Share Index, an index that tracks the general market movement of all listed stocks on the Exchange, including those listed on the growth board, regardless of capitalisation, rose by 19.98 per cent or 8,534.62 basis points to 51,251.06 basis points in 2022, from the 42,716.44 basis points it closed in 2021.

Foreign investors’ stake in the equity market dropped to N364.02 billion or 16.67 per cent in the 11 months of 2022, while domestic investors dominated the stock market with N1.819.55 trillion or 83.33 per cent portfolio participation in equity trading in 11 months of 2022.

The NSE 30 Index which is made up of the most capitalised stocks ended the year with a single-digit return of 6.98per cent as the banking and insurance index reported 2.81per cent and -11.99 per cent respectively.

Despite the paltry returns of the Banking Sector Index, Wema Bank, specifically led the chart as the best-performing stock in 2022, posting a return of 442 per cent to N3.9 per share, from N0.72 per share.